Cubs, Rizzo agree to $41 million, 7-year deal

Chicago Cubs first baseman Anthony Rizzo, back, gets caught in a rundown, while attempting to steal second, by Washington Nationals second baseman Danny Espinosa during the fifth inning of a baseball game, Saturday, May 11, 2013, in Washington. (AP Photo/Nick Wass)

By THE ASSOCIATED PRESS

CHICAGO (AP) — Slugging first baseman Anthony Rizzo and the Chicago Cubs agreed Monday to a $41 million, seven-year contract that could be worth up to $68 million over nine seasons.

The 23-year-old Rizzo is considered one of the centerpieces of the Cubs' rebuilding efforts. He is hitting .280 with a .352 on-base percentage. He also has nine home runs and 28 RBIs in his third major league season.

Rizzo gets a $2 million signing bonus, of which $250,000 is payable within 30 days of the contract's approval by Major League Baseball and $1.75 million is payable next Jan. 15.

He receives a $750,000 salary this year, up from $498,000 under the agreement he reached in March. He then will earn $1.25 million next year, $5 million apiece in 2015 and 2016, $7 million each in 2017 and 2018 and $11 million in 2019.

Chicago has a $14.5 million option for 2020 with a $2 million buyout. If that is exercised, the Cubs will have a $14.5 million for 2021 with a $2 million buyout.

If an option is declined, the buyout is payable the following Jan. 15. If he wins the NL MVP or finishes among the top five in MVP voting at least twice, his 2019 salary increases to $12 million and the option prices go up to $16.5 million.

In addition, if he finishes among the top two in NL MVP voting in any year through 2019 and then is traded, he can void the 2021 option.